Sunday, May 27, 2012

In the current week’s issues of Automotive News, Joseph Lichterman writes about how a claim that
the Obama campaign has launched against Mitt Romney regarding Bain Capital and
Cambridge Industries is false. Automotive News is the most trusted and
independent newspaper in the auto industry.

Romney was not part of Bain Capital when the Bain decision
was made to put Cambridge into bankruptcy.
Romney left Bain Capital in February 1999 to save the Olympics. The Bain decision not to inject more cash
into Cambridge came in November 1999 with the decision to enter into bankruptcy
in 2000. According to the Cambridge CFO
at the time, “Mitt Romney wasn’t even there.”

By law, at the end of every political advertisement, the
candidate says, “I approved this message”. It appears that this specific charge is false

For those who need some context, the Obama campaign has a
commercial running in some key battleground states that charges Romney with
seeking profit over jobs during his time at Bain. As part of this commercial, the case at
Cambridge is used to say that Bain withdrew substantial cash from Cambridge
before it entered bankruptcy. This eventually led to Cambridge loosing about a thousand jobs once it was in bankruptcy. The rhetoric is that Bain was a vampire
capitalist. All of this happened when
Romney was not there.

About Me

Who am I? I am a guy who has had a number of jobs in both the private and public sectors, most in finance, planning, and management. My educational background includes studies in public administration, public policy, finance and accounting, computer systems, mathematics, and recently, economics. I grew up as a conservative Republican who loved Nixon up until he broke my heart. I have also liked some Democrats such as John Kennedy and Birch Baye. This is my first attempt ever at trying to be public with my opinion. I would prefer spending my time taking classes, learning new things, enjoying close relationships, and looking forward. But if more of us from the old middle would be more vocal, perhaps our politics will change. My educational background includes a PhD in Public Administration with emphases in public finance and public policy, a Masters of Accounting, and other degrees. My experience includes project management positions with a defense company, a computer company, and a transportation company. I have also taught at several universities and colleges in two states.